If earlier the majority of people in our country living from paycheck to paycheck, but nowadays many people have to live on the same date of payment of the loan to the other. That is, the terms have changed, and the amount has remained the same. And when the next financial analysis of the family budget someone in horror grabs his head, asking a single question - "what happened to the money? ". Sometimes this question arises so acute that could not help think: whether it is good - life in debt? Like most important decisions one way or another connected with the financial risk, the intention to take the credit - the pros and cons are not always recognizable at first sight - requires a thoughtful approach.

Consumer credit - evil or good?

Consumer credit has become commonplace in our everyday lives. At first glance, it consists of solid pros. You get the thing you want now, not when you can save money on it. And when you consider that many consumer loans are interest-free, just dizzy from such an abundance of benefits. But is it all that simple? Before you climb into debt consumer credit, let's try to get acquainted in detail with the positive on all sides by type of lending.

Let's start with the most obvious benefits - the lack of interest on the loan. This is the first thing that caught buyers without hesitation that no bank would never work without benefits. So let's see, what constitutes your free credit.

Fee for processing. Despite the fact that it is charged at the same time, its value may reach an average of 20-25% of the loan amount.

Payment for servicing the loan will be about 1-3% of the amount. And paid on a monthly basis during the period for which you have given your do not have a free loan. And keep in mind that payment for the service will be charged with the remainder of your debt, but with the amount you originally taken. This means that your debt is reduced and the service you pay as if he had just received a loan from the original amount.

Insurance. If your loan amount is large enough, the bank may require you to insure your life or health. In most cases the insurance company will offer you here, and if you are curious, you probably know that a shareholder or founder of an insurance company is just the bank, where you are going to take the credit.

If you add up all the payments and distribute them to the period of the loan, it turns out that every month you give the bank from 12 to 36% over the cost of the loan taken by you in goods. And this is just a simple financial calculation, the usual arithmetic. And if we add the psychological factor and the effect of a large advertising, then surely you have purchased goods on credit will be much more feature-rich and modern than the one you originally intended to buy. After all, you bought it under the magical influence of the very zero percent. But if you originally could not afford this product for one hundred percent of the cost, what makes sense to pay for it one hundred and fifty percent? Are you so rich?

Cash and credit cards

Let's look at cash loans: the pros and cons from the perspective of the borrower. The undoubted advantage is that in unforeseen circumstances, you can always get the money you need without burdening their problems or close friends. This positive traits ends and begins negative.

If you take a cash loan from a bank, you need to provide the bank with a lot of documents. Starting from the statement of earnings from work and finishing, if you take a large amount of money, the documents that are in their own property. And if you remember that banks prefer to get as much money back guarantee, it may be necessary also guarantors. This is something that concerns the hustle and collecting documents. Further, cash loans offer an interest rate, and each bank has its own interest rate. In addition (usually in the brochures do not specify this information, but you better know everything in advance) in the bank you will be charged a fee for the maintenance of your account, it will be a plus 2-3% to the basic interest rate. Also pay attention to the fact that the contract may be present point on the right bank to revise the interest rate on the loan unilaterally. And not the fact that it will be reviewed in your favor.

So, if you still will have to refer the case to the bank for cash loans, consult an expert and carefully choose the bank.

All kinds of plastic cards, imposed by banks - is also one way to get into the credit trap. And if you do decide to take advantage of this offer of the bank, keep in mind that a credit card is better to pay directly for goods. In this case, in addition to the said bank interest rate and the amount of the commission to open an account, you will not have to pay for cash. But if you need cash it, then be prepared for what you will have to shell out an additional 1-3% of the amount received from an ATM money.

Mortgage - well?

Perhaps the only type of lending, which with some reservations can be called good - it's mortgage lending. Agree, it is one thing to save money on a TV, washing machine, a car or a refrigerator, and quite another - to raise funds for the purchase of housing.

What to look for when choosing a program of mortgage lending.

Timing. Too small loan term significantly increase the financial burden on the budget of your family. But at the same time, the greater the time period for which you took the loan, the more interest you will pay on the loan. Try to observe the rule of the golden mean.

Currency. Choose currency in which you will pay on the loan depends on the currency in which you get wages. If you are given a salary in dollars, and take the best dollar loan in order to avoid unnecessary costs when converting currencies.

Terms of early repayment. For example, you suddenly lucky and you got an inheritance or you are promoted to the post. Now you can pay the loan a large sum in a month or you can pay off the balance right away. The contract must be an item that allows you to do so.

The interest rate on a mortgage. Currently, on average it is 10, 3% per annum in dollars and 11% in rubles. If we consider that last year prices rose by an average of 25%, the benefit is obvious. It turns out that you "freeze" the price of your home as to the value at the time of conclusion of the contract.

The bank, in which you take out a loan, be sure to check the purity of the legal transaction, check the accommodation that you are going to buy, and ask him to issue insurance. As long as you pay on the loan, your home is pledged to the bank. Therefore, the bank is interested to have your home was not yet another master, and you do not become a victim of fraud.

After considering all the pros and cons of the loan offered by your bank, clearly calculating own opportunities, you can safely conclude the contract on mortgage lending. Today, even the experts in this kind of life has long been considered the most painless. You do not throw money away, a tribute to fashion or customer's instinct, and to acquire real estate for which the debt is not to give so sorry.

If you are going to take the credit, remember the famous saying: "The Miser pays twice, and three times a fool." Therefore, do not be fooled by advertisements on the benefits of an interest-free loan. Money, as we know, by love, and we just have to hope that this article will help you understand how beneficial loan for you personally.

People always some reason it seems that all sorts of trouble and disorder can occur only in the movies or neighbors. And television advertising about winces doorbell man looks a bit exaggerated. That's right, he did not pay taxes, and you something to be afraid? Taxes you pay, and consequently, sleep tight. All the propaganda slogans, respectively.

But it turns out that the fate of the "unfair" citizen of advertising (shudder and fear a visit from the bailiffs writ of execution) can easily become your everyday life. Remember, do not include any one of the periodically provided to you family and friends for favors not guarantee the loan? If the answer is yes, then the unenviable fate And this can touch and you.

Do you want to lose a friend - become guarantor

At first glance, quite a common situation. My favorite friend asked you to be her guarantor bank. What follows is a colorful description of the profitability of the loan, the minimum risk, mention how long you've know each other, and eloquent enumeration of all the urgent needs and requirements of its new business. You listened to her attentively, smiled and nodded in the right places. You think about what you really know for a long time, so why not accept? Sign the necessary documents in the bank, not bothering much careful consideration of all points of the loan agreement. And forget about you provided "shallow" service.

A few months later you receive in the mail a letter from the bank that the loan, take your girlfriend, has accumulated a decent debt. And the bank filed a lawsuit demanding to reimburse the amount of the debt, with interest and penalties for late payments. A friend, a close friend and a very long time, the phone does not answer, and the next child of its financial genius a month as a number sunk into oblivion.

And now you have become hostage to the very paradoxical situation, when you have to flinch at every ring at the door, and the idea that the coming day prepares you gradually develops into a bit obsessive. A further scenario is gradually starting to remind you of a Hollywood drama. With endless courts of another's debt payments and a solemn oath to myself that never, under any circumstances, you will not become a guarantor.

Do not think that all of the above exaggerated, pumped specifically to scare you. Quite the contrary. Let's try to examine the situation thoroughly, isolate errors and find ways to avoid them in the future. It is better to try to take into account possible errors imagine such a situation, rather than face her completely unprepared in real life. Let's start from the beginning.

How not to become hostage to the bank

If we start from the exact wording, a guarantor - a person who takes on the responsibility to the creditor for the fulfillment of obligations by the debtor
. So you vouch that your girlfriend to fully pay the loan taken
. And you believe it so much that they are willing to vouch for it
. And now, read carefully - instructed not only in words but their own property or own funds
. And so if you are well aware of the financial solvency of the person for whom gathered vouch? Do not hesitate, because you run the risk of their own means and, importantly, nerves, so please read this very carefully from the point of view of the girlfriend of the guarantor
. Inquire at the bank where she might have took a loan
. Ask your friends in common, how often it takes the money and gives them there in time
. In this matter there are no trifles
. And if you have something embarrassing, better give up to be a guarantor
. If true friend, she will understand you
. And if not, then, as they say, you're left with the advantage of
.

Carefully read each item of the credit agreement. Especially those items that relate to liability of the guarantor in case of non-payment by the debtor of the necessary sum. And best of all - consult a professional lawyer. An experienced lawyer will be able to tell you about the many nuances that can help reduce your risk.

For example, the law provides for an indication of a specific amount, within which you are willing to guarantee.

Or specify a specific time frame within which you are prepared in case of complications, to be responsible for the loan.

It is not superfluous to include in the contract additional requirements. The fact that the bank agrees to negotiate any changes to the terms of the contract, not only with customers but also with the guarantor.

You can also insure themselves and with the other hand. That is, you can have the same lawyer to conclude a contract with the recipient of the loan include the items for which the borrower agrees not to sell valuable possessions or take new loans from other banks, without coordinating this with you as a guarantor. In addition, you must enter an item on the application of penalties in case of non-fulfillment of the contract.

But all these precautions are good only if you ask for a little time to think about their own risks. What to do if you have a rash consent faced with the need to repay foreign debt?

No money and will not be. What to do?

Many, before anyone gets a real threat of paying other people's debts are wondering - how to challenge a guarantee on the loan? It should immediately make a reservation - if you decide to sue the bank, then the chances of winning you miserable. In 99% of cases the court's decision shall be made in favor of the bank. For you personally signed all the documents, becoming the guarantor. No one is hiding from you a contract, in paragraphs it clearly spelled out your responsibility as a guarantor to the creditor. But do not give up and think that there is no escape. Output can be found.

The only condition under which the guarantor may be completely exempt from the payment of foreign debts is the lack of permanent source of income due to job loss. And the lack of liquid assets, that is, a property that can be sold to gain for it's money. Apartment, car, land. So that option when the entire property is decorated to your favorite in-law, from this point of view seems even attractive. But according to the law, if the recovery from the guarantor to repay the loan funds have a court decision, then, as soon as you get a job, the bank immediately has the right to require you to pay off existing debt.

Another opportunity not to pay money on the loan are those who have two minor children and parents with disabilities who filed for child support. If you pay persons who are your dependents, 70% of your earnings, the bank has no right to require you to repay the loan.

You must also remember that if the bank is not addressed to demand payment of the loan to the guarantor within six months after the receipt of funds from the borrower, it loses its legitimate right of the request to the guarantor to repay the loan
. Incidentally, it is not uncommon for the original asking "relationship" between the bank and the debtor has been delayed for a couple of months
. If we take the statistics, the borrower is in arrears in payments for about three months before the bank starts to take active steps
. Just a couple of months, the bank is trying all legal means to force the debtor to pay the debt, loan interest and penalties
. If you add up the time spent by the bank to independently decide the issue, will those same 6 months
. And on the guarantor can "remember" when required by law the term already held
. But do not count on it, and we believe that this will happen in your case
.

If, however, the bank will oblige you to pay someone else's debts, you can sue, or rather, your next of kin can. For what? To recognize you incapacitated. If a bank submits a counterclaim, all meetings will be held in the presence of the board of trustees. You may ask, what's the advantage? Yet not everyone will agree to plead incompetent. And the fact that the judgment in this case will be made not in favor of the bank. Hardly anyone would allow property to deprive the incapacitated citizen.

But do not forget - if you decide to sue the bank, in case of loss of the case you will have not only to pay all the debt on the loan, interest, and in that time has run fine, but court costs and lawyers all kinds of payment.

Now let's try to summarize the cases in which the lender may require the guarantor to repay the loan:

in the case of death of the borrower, if the life insurance policy is absent;

if the borrower does not want (can not) pay money for its obligations;

if the value of the mortgaged property the borrower does not cover the loan amount.

You, as the guarantor, have the right to challenge the decision of the bank in the following cases:

if a bank has addressed to you with a demand to pay the loan within six months after the cessation of receipt of payments on the loan;

If you are recognized as incapable;

if you spend more than 70% of their income for child support or maintenance of persons who are your dependents;

If you are unemployed and do not have any property in liquid assets.

Learn to say "no"

Having examined all the above and to calculate their own is not infinite possibilities, any reasonable person will ask a question - how to refuse a guarantee on the loan?

If the person you care about, is to do so in the most correct manner, so as not to offend him.

Refer to the fact that you are going in the near future to apply for a loan, and if you become surety, the amount that a bank dare you to allocate significantly reduced.

Advise your friend to apply to another bank that issues the loan without guarantors, for example, the security of property borrower. And that is good friendship - to risk your property and take care of your own!

Refer to the fact that already the guarantor or the borrower. You can also add that if you become a guarantor once again, you most in the event of unforeseen circumstances, to grant a loan may decline.

If you decide to say "no" in any case not gnaw themselves with guilt. Where money is involved, there is no place to emotions, you must first take care of their own well-being and safety of your family. Therefore, before deciding whether to become a guarantor for someone else's loan, consider all the details. Do not take chances with what you have.